Forecast and handle sideways or nontrending markets | Forex Factory

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Forecast and handle sideways or nontrending markets

  • #1
  • First Post: Jul 7, 2008 9:23am Jul 7, 2008 9:23am
Hi,

I'm interested if someone can share his experience about sideways and nontrending markets. How to handle them and how to avoid losses or even better, get some small gains from them?

I'm trading eur/usd and for example the last days 06/28/2008 - 07/03/2008 it was very hard to identify a clear direction where the market is going.

TY
scratch
  • #2
  • Jul 7, 2008 2:08pm Jul 7, 2008 2:08pm
When I run into a situation as described, I then look for another currency pair to trade that is trending. I don't take a break just because a pair it taking a break.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #3
  • Jul 8, 2008 1:25am Jul 8, 2008 1:25am
Quoting CTGUY
When I run into a situation as described, I then look for another currency pair to trade that is trending. I don't take a break just because a pair it taking a break.
I'm not a fulltime trader, this is way I did not trade other pairs. I did not have enough time at the moment to study several economycs and read news.

I read about ADX as an indicator but I don't really like it because it is very slow. Is there something else?
  • #4
  • Jul 8, 2008 2:37am Jul 8, 2008 2:37am
I practice one thing.

WWCND

What the hell I'm I on about you ask? Simple

WWCND stands for "What would Chuck Norris do"?

Chuck Norris doesn't sleep, he waits. If there's no trend, I do sleep (hey, I'm only human), but wait for a trend.
Not all sins are created equal
  • #5
  • Jul 8, 2008 6:13am Jul 8, 2008 6:13am
Hmm ok,

easy answers ...
  • #6
  • Jul 8, 2008 6:58am Jul 8, 2008 6:58am
Quoting Jay Walker
I practice one thing.

WWCND

What the hell I'm I on about you ask? Simple

WWCND stands for "What would Chuck Norris do"?

Chuck Norris doesn't sleep, he waits. If there's no trend, I do sleep (hey, I'm only human), but wait for a trend.


Me, too.

Actually, I ask, "What would John Smeaton do?". Who?

It was reported that Smeaton shouted "f**king come on, then" and aimed a kick at Kafeel Ahmed, who later died from his 90% burns following the attack.

See, Chuck Norris can't kick people and give them 90% burns.
The market reveals who we really are...
  • #7
  • Jul 8, 2008 7:02am Jul 8, 2008 7:02am
Scalp on smaller time frame, catch the small movements. The market has to move 5 pips before it can move 50. How many times a day do you think it swings 5 pips vs 50? Always money to be made, small time frames trend too....
  • #8
  • Jul 9, 2008 3:53am Jul 9, 2008 3:53am
Quoting fxRichard
Scalp on smaller time frame, catch the small movements. The market has to move 5 pips before it can move 50. How many times a day do you think it swings 5 pips vs 50? Always money to be made, small time frames trend too....
I don't feel comfortable trading on the small 1,5 or 15 minute tf's. So i have to stay out of the market.

What about ea's, is there a way to teach an ea when the market is sideways or nontrending?

TY
scratch
  • #9
  • Jul 9, 2008 4:00am Jul 9, 2008 4:00am
Practice makes perfect not for everyone though
  • #10
  • Last Post: Jul 9, 2008 6:58am Jul 9, 2008 6:58am
Seriously, I just take a look at the market and deside visually whether I feel it's ranging too much for my liking.

There's no hard and fast rules.
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